Stefano Gabbana has stepped down as chairman of Dolce & Gabbana, effective January 1st, as part of a restructuring of the company’s governance. Gabbana, 63, will continue in his creative role at the fashion house he co-founded with Domenico Dolce in 1985.
The resignation comes as Dolce & Gabbana navigates financial challenges, including approximately €450 million in debt, amid a slowdown in global luxury spending. Gabbana is now considering options for his 40% stake in the company.
Domenico Dolce’s brother has taken over in the boardroom. Dolce & Gabbana debuted in Milan in 1985, becoming known for its Sicilian craftsmanship and signature styles like cone bras and tailored black dresses. The brand has since expanded into fragrances, home goods, and watches.